ABB Ltd (ABB) Holdings Increased by Dorsey & Whitney Trust CO LLC

Dorsey & Whitney Trust CO LLC boosted its position in ABB Ltd (NYSE:ABB) by 2.9% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 13,917 shares of the industrial products company’s stock after acquiring an additional 392 shares during the period. Dorsey & Whitney Trust CO LLC’s holdings in ABB were worth $347,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Bank of Montreal Can grew its stake in ABB by 5.5% in the 2nd quarter. Bank of Montreal Can now owns 47,187 shares of the industrial products company’s stock worth $1,174,000 after acquiring an additional 2,447 shares during the period. Atlantic Trust Group LLC grew its stake in ABB by 0.6% in the 1st quarter. Atlantic Trust Group LLC now owns 80,550 shares of the industrial products company’s stock worth $1,884,000 after acquiring an additional 441 shares during the period. Aperio Group LLC grew its stake in ABB by 4.8% in the 2nd quarter. Aperio Group LLC now owns 834,910 shares of the industrial products company’s stock worth $20,789,000 after acquiring an additional 38,467 shares during the period. Pinnacle Associates Ltd. grew its stake in ABB by 12.8% in the 2nd quarter. Pinnacle Associates Ltd. now owns 73,888 shares of the industrial products company’s stock worth $1,840,000 after acquiring an additional 8,406 shares during the period. Finally, Boston Financial Mangement LLC grew its stake in ABB by 1.6% in the 1st quarter. Boston Financial Mangement LLC now owns 121,427 shares of the industrial products company’s stock worth $2,841,000 after acquiring an additional 1,942 shares during the period. 4.43% of the stock is owned by hedge funds and other institutional investors.

ABB Ltd (NYSE:ABB) opened at 24.43 on Friday. ABB Ltd has a one year low of $20.26 and a one year high of $25.83. The firm has a market cap of $52.13 billion, a price-to-earnings ratio of 23.54 and a beta of 1.07. The firm has a 50 day moving average of $23.40 and a 200-day moving average of $23.98.

ABB (NYSE:ABB) last announced its quarterly earnings results on Thursday, July 20th. The industrial products company reported $0.30 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.33 by ($0.03). ABB had a return on equity of 18.62% and a net margin of 6.87%. The business had revenue of $8.45 billion for the quarter, compared to analyst estimates of $8.55 billion. During the same quarter last year, the company earned $0.35 EPS. The business’s revenue for the quarter was down 2.6% compared to the same quarter last year. Equities research analysts forecast that ABB Ltd will post $1.25 EPS for the current fiscal year.

ABB has been the subject of several recent analyst reports. BidaskClub cut shares of ABB from a “buy” rating to a “hold” rating in a research note on Tuesday, August 1st. Robert W. Baird set a $28.00 target price on shares of ABB and gave the stock a “buy” rating in a research note on Thursday, August 24th. Citigroup Inc. reaffirmed a “sell” rating on shares of ABB in a research note on Friday, June 9th. Morgan Stanley reaffirmed a “buy” rating on shares of ABB in a research note on Thursday, June 22nd. Finally, BNP Paribas cut shares of ABB from an “outperform” rating to a “neutral” rating in a research note on Tuesday, May 23rd. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $24.25.

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ABB Company Profile

ABB Ltd (ABB) is a holding company. The Company’s segments include Electrification Products, Robotics and Motion, Industrial Automation, Power Grids, and Corporate and Other. It operates through four divisions: Electrification Products, Robotics and Motion, Industrial Automation and Power Grids. It is engaged in serving customers in utilities, industry and transport and infrastructure.

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